Kentucky Retirement Systems, Frankfort, allocated approximately $392 million total to three managers, said David Peden, chief investment officer.
KRS allocated 2% of the total portfolio, or roughly $302 million, to Marathon Asset Management for a mulitsector credit fixed-income strategy.
The board also committed $50 million to buyout fund Harvest Partners VII and invested $40 million in Davidson Kempner Institutional Partners, a multistrategy hedge fund managed by Davidson Kempner Capital Management.
KRS has committed to previous Harvest Partners funds.
Kentucky Retirement Systems consists of $11.1 billion in pension fund assets and a $4 billion insurance fund.